Please do not give image format Required information[The following information applies to the questions displayed below.]Ethan Allen Interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States andabroad. The following is adapted from Ethan Allen's June 30, 2019, trial balance. (The amounts shown represent millions ofdollars.)Accounts PayableAccounts ReceivableCashCommon StockEquipmentInventoryNotes Payable (long-term)Notes Payable (short-term)Prepaid RentRetained EarningsSalaries and Wages PayableSoftware$ 9314213632451622391912149Assume that the following events occurred in the following quarter.a. Paid $10 cash for additional inventory.b. Issued additional shares of common stock for $20 in cash.c. Purchased equipment for $170; paid $15 in cash and signed a note to pay the remaining $155 in two years.d. Signed a short-term note to borrow $10 cash.e. Conducted negotiations to purchase a sawmill, which is expected to cost $36. 2. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances witha minus sign.)PPPPPCashAssetsInventoryEquipmentLiabilitiesNotes Payable(short-term)Notes Payable(long-term)Stockholders'EquityCommonStock

ACCOUNTING EQUATION Accounting Equation is a Financial Accounting Technique which represents the…

2. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) PPPPP e. Cash Assets Inventory Equipment Liabilities Notes Payable (short-term) Notes Payable (long-term) Stockholders' Equity Common Stock

2. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) PPPPP e. Cash Assets Inventory Equipment Liabilities Notes Payable (short-term) Notes Payable (long-term) Stockholders' Equity Common Stock

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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